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KPMG has faced a parliamentary inquiry into allegations staff shared confidential client information to help colleagues win audit contracts. 

FinancePremiumANZ dumps scandal-plagued KPMG as auditor after 57 years

ANZ has shut KPMG out of bidding to keep its audit work, announcing plans to replace the firm that has checked its books since 1969.

Ryan Johnson

Auditor KPMG said it wouldn’t be in a position to provide its audit opinion on the financial reports by September 30.

Funds managementPremiumMetrics puts hold on funds after shock $170m writedown

Metrics Credit Partners has stopped investors from accessing some of its funds and delayed the release of its audited financial reports for the portfolios.

Ryan Johnson

The cuts follow a sector-wide June warning from the corporate watchdog that private credit valuations could fail to reflect worsening conditions for borrowers, giving investors an inflated picture of what their holdings are worth.

Commercial PropertyPremiumWA-exposed Metrics fund values slashed after delayed audit

Three Metrics funds have been suspended after a delayed audit triggered cuts in their reported value, months after the corporate watchdog warned investors could be relying on inflated private credit valuations.

Ryan Johnson

New research from Rainmaker Information puts Australia’s reported family-office assets at $323b, with Perth accounting for 30 per cent. Sydney holds 36 per cent, Melbourne 23 per cent and Brisbane 11 per cent.

Funds managementPremiumPerth’s family offices oversee $97b fortune

Perth’s family offices oversee almost $97 billion in assets, putting the city second only to Sydney in a national private wealth market that has more than tripled since 2010.

Ryan Johnson

A year after Magellan invested in GYG, it sold its 11.6 per cent stake to a Barrenjoey-managed investment vehicle for $140 million.

BusinessPremiumThe investment bank gunning to be next millionaire’s factory

The six-year-old investment bank is being compared to Macquarie and its growth plans reflect a huge shift sweeping through investment markets.

Tom Richardson

ASIC chair Sarah Court more bans and disqualifications means more protections for customers

ASICPremiumWA operators caught in ASIC finance crackdown

Advisers raiding client money and directors leaving creditors nursing losses were among the misconduct that saw ASIC ban or restrict scores of operators last financial year.

Ryan Johnson

Bank of America wants to build a bigger presence in WA’s mining sector.

MiningPremiumBank of America plans Perth office to grab more mining deals

The $630 billion US banking giant confirmed on Thursday it had leased space in Perth’s central business district for an office to be headed by BofA’s co-head of natural resources investment banking.

Sean Smith

Canaccord Genuity Australia chief executive Marcus Freeman.

Funds managementPremiumCanaccord Genuity Australia romps to record profit

The stockbroker and wealth adviser has demonstrated why another Canadian bank is sniffing around Down Under, with a leap in equity raisings helping it to a tripled annual net profit of $50.2 million.

Sean Smith

Andrew Yates resigned as chief executive of KPMG in May following allegations. (AAP PHOTOS)

ASICPremiumWider watchdog inquiry launched into scandal-plagued KPMG

The head of ASIC has confirmed a broader investigation is under way into Big Four consulting firm KPMG following allegations from whistleblowers.

Andrew Brown

Euroz Hartleys’ Perth trading office.

Funds managementPremiumCanada’s Bank of Montreal lobs $145m bid at Euroz Hartleys

Euroz Hartleys told investors BoM wanted to buy the group’s profit centre, its flagship capital markets business, but leave the private wealth business with the firm.

Sean Smith

Euroz Hartleys executive chair Andrew McKenzie and managing director Tim Bunney.

Mergers and AcquisitionsPremiumBank of Montreal said to be planning bid for Euroz Hartleys

The stockbroker and corporate adviser’s shares leapt more than 12 per cent on Thursday off the back of a report the Canadian group was preparing a takeover bid for the near $200 million WA-based group.

Sean Smith

Jock Clough is the founder and trustee of the Jock Clough Marine Foundation.

Funds managementPremiumJock Clough’s journey from business to marine conservation

A successful and influential WA business figure through the 1980s and 1990s, Harold Clough’s eldest son heads a marine foundation that has directed more than $17 million into conservation.

Sean Smith

Hyperion Systems chief executive Josh Wigley at the Indian Ocean Defence and Security Conference and Exhibition in Perth.

exclusive
exclusive
ManufacturingPremium
exclusive
Sky’s the limit for WA maker of 3D-printed boats

Hyperion Systems’ 4.6m Astra 460, said to be the first unmanned vessel made in the southern hemisphere by a 3D machine, was exhibited for potential customers at a defence conference in Perth. 

Sean Smith

John Van Der Wielen is leading a fundraising charge in Australia that will include an investment roadshow next month.

Funds managementPremiumGlobal investor’s venture capital fund eyes WA potential

Guided by John Van Der Wielen, the $80 million Bridgewest Ventures fund in chasing funds from family offices and wealth investors for life sciences and deep technology plays across Australia.

Sean Smith

Shemara Wikramanayake, chief executive of Macquarie Group.

Funds managementPremiumMacquarie CEO’s monster payday after profit beat

Macquarie Group’s profit topped analyst expectations, spurred by activity in its key commodities and global markets division.

Daniel Newell

AMP chair Mike Hirst says the company is focused on enhancing productivity gains with AI. (Joel Carrett/AAP PHOTOS)

BusinessPremiumAMP leaders defend share price, tout AI future

There is no sideline position to take in the disruptive moment offered by artificial intelligence, the leader of an Australian wealth stalwart says.

Adrian Black

Affinity Capital Group chair Adam Santa Maria and managing director Ben Palmer pictured at Affinity’s St Georges Terrace office, Perth, on Thursday. Carwyn Monck

Funds managementPremiumGESB super boss eyes new Perth fundie venture

The former boss of $47 billion State Government superannuation authority GESB is launching a fund management business that plans to pump cash into WA’s economic diversification.

Matt Mckenzie

AMP's full-year bottom-line net profit for the 2025 calendar year has come in at $133 million. (Joel Carrett/AAP PHOTOS)

BusinessPremiumWealth manager's underlying profit offers good news

AMP's underlying net profit rose almost 21 per cent to $285 million, helped by its superannuation and investments arm and pension wrap platform business.

Staff Writers

Shemara Wikramanayake, chief executive of Macquarie Group.

Funds managementPremiumMacquarie profit buoyed by commodities asset management

Macquarie Group’s third-quarter profit was supported by its commodities and global markets division as well as a strong performance in its asset management unit.

Adam Haigh

Chris Marco leaving court during the trial.

Courts & JusticePremiumMega Ponzi fraudster appeals convictions, huge jail term

A former western suburbs fund manager who ripped millions of dollars off clients and splashed it on extravagances is appealing his convictions and sentence.

Rebecca Le May

Perron Group chief executive Adam Irving.

Funds managementPremiumPerron Group cites equities, Toyota sales in big profit jump

The WA investment group, profits from which sustain hundreds of charities through the Stan Perron Charitable Foundation, said annual earnings leapt 81 per cent to $472.5m.

Sean Smith

Paul Downie, left, with Al Donald & Nathan Bennett at a social function last year.

MarketsPremiumTributes for Perth business PR doyen Paul Downie

Mr Downie, a strategic communications veteran who cut his teeth in investor relations working with Andrew Forrest on Anaconda Nickel and then Fortescue Metals, died on Tuesday aged 65.

Sean Smith

Access to a life insurance payout from your super can be crucial in your final months if you’ve been diagnosed with a terminal illness. Here’s how to make sure your savings can help those left behind.

Bruining Q+ATerminally ill in my 40s. What should I do with my super?

Q+A: Access to a life insurance payout from your super can be crucial in your final months if you’ve been diagnosed with a terminal illness. Here’s how to make sure your savings can help those left behind.

Nick Bruining

Most don’t properly understand the very real risks and the tricks used by some in the industry to effectively fool people into thinking an investment is completely safe. Here’s what you really need to know.

opinion
opinion
Your MoneyPremium
opinion
What truth lies behind those promises of mega returns?

Most don’t properly understand the very real risks and the tricks used by some in the industry to effectively fool people into thinking an investment is completely safe. Here’s what you really need to know.

Nick Bruining